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1

Współczynnik wypłacalności jako miara adekwatności kapitałowej banków w Polsce

100%
Kochaniak K.
Zeszyty Naukowe Uniwersytetu Ekonomicznego w Krakowie
|
2012
|
issue 889
17-48
EN
The paper presents one of the most important measures in the Polish banking sector, the Capital Adequacy Ratio, which since 1990 has been an indicator of the safety and financial stability at particular banks and throughout the banking system. At the beginning, the measure originally provided information about the equity coverage of credit risk. Over the last 20 years it has been systematically modified, as further risks were identified in the banking industry. All those changes were accompanied by variations of the definition of bank equity. The modifications of legal regulations led to inconsistency in CAR values in groups of commercial and cooperative banks. The aim of this paper is to present those legislative changes which had a significant impact on the metric’s formula in the years 1990–2009, and to answer the following questions: Were there any significant differences between the values of CAR in groups of commercial and cooperative banks in the years 2002–2009? Were groups of banks threatened with an inappropriate CAR value? Did the changes in legal acts affect changes in the value of the measure analysed? Was the growth of risk accompanied by a sufficient increase in the groups’ equity? Empirical analysis was conducted on financial data published by the Polish Financial Supervision Authority.
2

Effective equity: Eperiences from an ultimatum experiment

100%
Kovacs J.
Magyar Pszichologiai Szemle (Hungarian Psychological Review)
|
2005
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vol. 60
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issue 1/2
225-147
EN
Fairness like other social norms is usually stabilized by punishing norm deviations. Reward uncertainty, however, questions that norm deviations are detected and thus punished. By investing in information acquisition a responder in an ultimatum experiment determines endogenously whether unfair offers are detected and sanctionable. In our experiment a proposer and a responder can share 12 black and 12 white chips where the monetary value of a white chip for the proposer can be rather high ('high payoff mode') or low ('low payoff mode'). The responder can buy information about the proposer's reward type what results in commonly known monetary rewards. The efficient (Pareto-optimal) allocation of chips needs one-sided allocation of - at least one kind of - chips. At the same time Pareto-efficiency is fully compatible with equity. The efficient equitable allocation in the case of high (low) payoff mode gives all black chips to the responder (proposer) and splits white chips equally. We expected lack of information to yield much of waste and inequitable allocations. This expectation is based on the proposer who in the lack of common knowledge does not do the rational differentiation in order to avoid misunderstandings, but relies more on primitive fairness norms (splits both piles of chips equally). According to our results 1. More than half of the responders do not buy information about the payoff mode (30 out of 55). 2. Those, who buy information report more uncertainty about the allocation problem and trust less their proposers. 3. Proposers, whose partners asked for information: - utilize the resource of white chips to a less extent in both payoff modes; - offer considerably less Pareto-optimal allocation in both payoff modes; - offer more equitable allocation in the high payoff mode than those with partners not asking for information. In general, in our experiment buying information did not pay on average (although it was sold at a low price, equal to the value of a single chip). Surprisingly, buying information destroyed rationality in the offers to such an extent that even the more equitable offers could not cover the cost of information. Based on our data set one cannot judge safely on causes of these unexpected results. A possible explanation is that asking for information conveys the fearful message of mistrust, attracting attention from the rational way of problem solving to getting the good result. Putting it another way, less cognitive capacity might be devoted to finding the rational way to the solution. Supporting this hypothesis, we prove that proposers with partners asking information employ more the heuristic of 'separate accounts from the two kinds of chips' and try to come at equitable allocation separately from both piles.
3

MEZANÍNOVÉ FINANCOVAIE – JEHO VÝZNAM A ÚLOHA V EKONOMIKE

88%
Mihalčová B., Hvastová J.
Ekonomický časopis (Journal of Economics)
|
2008
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vol. 56
|
issue 10
973-986
EN
Mezzanine finance is a term for hybrid forms of finance. It has features of both debt and equity. Mezzanine finance instruments have been gaining in importance but remain little used compared to classic loan financing. The significance of mezzanine financing becomes more important when it comes to Small and medium size enterprises - SMEs, which are the backbone of the European economy. SMEs often do not meet the criteria to obtain mezzanine finance or they do not have access to it. However, the problem is up-to-date. This paper focuses on definition, purpose and use of mezzanine finance in European region. In detail this article analyses the application of mezzanine finance for different classes of SMEs. Finally, it points out the significance and role of mezzanine finance and compares its advantages and possible disadvantages.
4
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Od dyskryminacji do równouprawnienia. Kobieta a polityka

88%
Piechaczek-Kaszczyniec A.
Archeus. Studia z bioetyki i antropologii filozoficznej
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2013
|
vol. 14
182-197
EN
This article constitutes an attempt at examining the changes in the position of women in the modern society and their current role in political life. Do women – against the general view – fulfill any important functions or is this particular area reserved for men? It is frequently heard that during the last years women have got easier access to various positions. Women do not face any barriers apart from their own weaknesses and lack of self-confidence. Even though the opinions differ, generally it can be stated that discrimination still exists. Even though women manage to enter the world of politics, they are not taken seriously enough. Thus, is it true that the roles they play in their lives are only a matter of choice? Some people believe that the problem is only a matter of stereotypes. Then, what is the sense of efforts aimed at equality of rights? Although the article focuses on the issue of equality, the rights and the general position of women is also presented. The article brings up issues connected with equality of rights – whether one can really maintain that equal chances exist. It also presents a variety of stereotypes and struggles against them, and discusses the presence of contemporary women in the political arena.
5

PRÁVNÍ SLUŠNOST (EKVITA) A SOUKROMÉ PRÁVO

75%
Eliáš K.
Právny obzor. Teoretický časopis pre otázky štátu a práva (Juridical Review. Theoretical journal for the questions of state and law)
|
2017
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vol. 100
|
issue 4
337 – 360
EN
The main part of the essay addresses the issue of application of equity in the decision-making practice of Czech and partially Slovak courts in civil matters. The author has interpreted the topic of the essay with references to the intellectual basis of perception of equity in ancient Greece and by Roman lawyers. The author comparatively suggests different paths followed by the legal practice in the search for justice in tried cases. The author notes the risks of a strict reading of the law and of judicial libertarianism. He points out that in the period of so-called communism argumentation by the principles of equity did not appear in the case-law and that a decent judge was able to find an equitable solution also in complicated cases. However, before 1948 in the common state of Czechs and Slovaks, the high courts worked with equity. Although the word “equity” is not a term used in written law of the Czech Republic and the Slovak Republic, the case-law in both countries had returned to equity and used it as a method of the search for justice. The author analyses the achieved results and shows how these trends were taken into consideration in the Czech Civil Code from 2012. The essay is accompanied by a number of references to examples of decision-making practice.
6

ON THE FORMALIZATION AND INTERPRETATION OF THE NOTION OF 'EFFICIENCY' - FURTHER EXAMPLES AND COMMENTS (O formalizacji i interpretacji pojecia efektywnosci - dalsze przyklady i komentarze)

75%
Rybicki W.
Mathematical Economics
|
2010
|
issue 6(13)
103-126
EN
The article is devoted to revealing further kinds of the meaning of the term 'efficiency' (and related notions), consequently setting them in mathematical frames. First of all the so called envelope-type efficiency is introduced. This notion is illustrated by several examples derived from the elementary topology, Bayesian statistics, mathematical economics and primer of financial engineering. It seems that the above examples do reflect the essence of this idea in the best possible picture. The next proposition concerns the type of efficiency which was called 'collective-type efficiency'. It turns out that the reasonable compromise is 'better than the best solution' (even in the Nash sense). The quite good class of examples are provided by problems derived from the famous 'prisoner's dilemma' and exploitation of common resources. At the end of the paper some complementing thoughts are indicated - in a loose form. They concern the principal conflict between efficiency and equity as well as the problem of economic behaviour in the sphere of scientific research (the balance between two factors: 'erudite components' and 'creative potentials' of the researchers).
7

CONVERGENCE OF NON-FINANCIAL COMPANIES’ CAPITAL STRUCTURE IN CENTRAL AND EASTERN EUROPE

63%
Krištofík P., Šlampiaková L., Fendeková J.
Ekonomický časopis (Journal of Economics)
|
2021
|
vol. 69
|
issue 3
237 – 256
EN
This paper explores the convergence of financial systems in selected CEE countries, by examining the typical capital structure, and its convergence, of their non-financial companies. It examines the sigma convergence of ratios of the most important financial liabilities to total financial liabilities. It focusses on those liabilities that constitute a significant part of total liabilities. These are equity and investment fund shares, bank loans, debt securities and trade credit. Using the Eurostat database, there is strong evidence for sigma convergence of equity and bank loans. This confirms the banking sector’s key role in continental Europe. In contrast, debt securities and trade credit show only moderate convergence. The 2008 crisis led to increased variance for debt securities and trade credit.
8

THE REDISTRIBUTIVE ROLE OF THE STATE IN THE BRITISH AND DUTCH HEALTH CARE MARKET. IS THERE ANOTHER WAY? (Az allam ujraeloszto szerepe Hollandia es Anglia egeszsegugyi piacan. Mindenki maskepp csinalja?)

63%
Nagy B., Brandtmuller A., Dozsa C.
Tarsadalomkutatas (Social Science Research)
|
2009
|
vol. 27
|
issue 2
117-138
EN
From the eighties many developed countries withdrew from many sectors of the economy in order to sustain international competitiveness and financial sustainability while preserving a dominant role on the market of health care. Such trend can be explained by ageing populations, the diffusion of health care technologies, changes in the disease structure and in the preferences of the society. In this study the authors examine these phenomena through the review of the British and Dutch health care systems and allocation mechanisms. Both countries design their health care system through very similar principles: efficiency and equity; and also follow quite different socio-economic preferences, while they respond to challenges in different ways. The role of private sector in the Dutch health care system has been increasing and this has resulted in the development of a national health insurance system based on regulated competition. The underlying principal of British health care has been the promotion of equity which has strongly endorsed the preservation of state-held territorial service monopolies. In spite of finding rudimentary differences in the two countries' health system, governments' role in redistributing health care resources and coordinating health care market remained dominant. At the same time, with the pressure on national health care budgets the role of the private sector, efficiency considerations and competition amplified. The authors find that in spite of the challenges of the global and domestic environment, national health policies still have the possibility to take public preferences firmly into account, and, as a consequence, welfare states do not only reflect to recent changes in the health care sector but have the potential to bring them about.
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